Friday, October 29, 2010
To cut ObamaCare costs, TSA Security Checkpoints to begin performing Mammograms and Prostate-Screenings
TSA to phase in new Aggressive and Humiliating Pat-Down Procedures at airports nationwide
By Jim Barnett
http://www.cnn.com/2010/TRAVEL/10/28/airline.security.pat.down/index.html
By Jim Barnett
According to Rosemary Fitzpatrick, a CNN employee, a female [TSA] screener ran her hands around her breasts, over her stomach, buttocks and her inner thighs, and briefly touched her crotch.
"I felt helpless, I felt violated, and I felt humiliated," Fitzpatrick said, adding that she was reduced to tears at the checkpoint.
...
"I am appalled and disgusted at the new search procedures and the fact that passengers have not been made aware of the new invasive steps prior to entering the security area," Fitzpatrick wrote. "It appears once you enter the security area, passengers forfeit their rights. "
http://www.cnn.com/2010/TRAVEL/10/28/airline.security.pat.down/index.html
Federal Reserve to announce new "Tax on the Consumer", and that It's For Your Own Good.
The Fed's 'tax on the consumer'
By Hibah Yousuf; CNNMoney.com
http://money.cnn.com/2010/10/28/news/economy/quantitative_easing_consumer_impact/index.htm
By Hibah Yousuf; CNNMoney.com
"The problem I have with QE2, is it behaves like a tax on the consumer," said David Giroux, a fund manager at T. Rowe Price. "People want to believe it's a free lunch for the economy, but it's definitely not. Next year, we're going to be paying more at the gas pump and the grocery store."
http://money.cnn.com/2010/10/28/news/economy/quantitative_easing_consumer_impact/index.htm
Of Couse you have a Choice: It's Either a "photo-realistic" Naked Body Scan or a X-rated Pat Down
Q. Would a [“advanced imaging technology” scan or a ] “front of the hands” pat-down have caught the "Christmas-Day Underwear Bomber"?
A. Not likely. He had powder in his underpants.
Pat Down or Full Body Scan? Security Gets More Personal at Airports
http://abcnews.go.com/WN/tsa-pat-procedure-airports/story?id=11998304
A. Not likely. He had powder in his underpants.
Pat Down or Full Body Scan? Security Gets More Personal at Airports
http://abcnews.go.com/WN/tsa-pat-procedure-airports/story?id=11998304
Changing Education Paradigms
How many more kids are going to be put on the psychostimulant Ritalin before we abolish the No-Child Left Behind Act and the Federal Dept of Education?
Thursday, October 28, 2010
Wednesday, October 27, 2010
Pork for Me, Scraps for You, Is A Tragedy of the Commons
Pork for Me, Scraps for You, Is Tragedy: Caroline Baum
By Caroline Baum
http://www.bloomberg.com/news/2010-10-27/pork-for-me-scraps-for-you-tragedy-for-all-commentary-by-caroline-baum.html
By Caroline Baum
Tea Party candidates who ride into Washington on a wave of anti-incumbent fervor will face the same skewed spending incentives as their predecessors. In their zeal to represent the common man, they may just compound the common tragedy.
http://www.bloomberg.com/news/2010-10-27/pork-for-me-scraps-for-you-tragedy-for-all-commentary-by-caroline-baum.html
The Only Budget Options are Borrowing, Taxing, and Cutting
The Only Budget Options are Borrowing, Taxing, and Cutting
Charles M. Arlinghaus
http://newhampshire.watchdog.org/7197/the-only-budget-options-are-borrowing-taxing-and-cutting/
Charles M. Arlinghaus
Over the last two budget cycles, New Hampshire’s tax revenue’s have been flat. In the 2006-2007 biennium, tax and fee revenues for the general and education funds were $4.47 billion while the current 2010-2011 budget is projected to be $4.45 billion. Despite that tiny drop, spending increased at historically average rates growing from $4.4 billion to $5.1 billion.
http://newhampshire.watchdog.org/7197/the-only-budget-options-are-borrowing-taxing-and-cutting/
Stop the Invasiveness of the Body Scanners
Stop the Invasiveness of the Body Scanners
by Mike Miller
http://libertymaven.com/2010/10/27/stop-the-invasiveness-of-the-body-scanners/10833/
by Mike Miller
“I don’t know why everybody is running to buy these expensive and useless machines. I can overcome the body scanners with enough explosives to bring down a Boeing 747. That’s why we haven’t put them in our airport. — Rafi Sela, leading Israeli airport security expert, referring to Tel Aviv’s Ben Gurion International Airport, which has some of the toughest security in the world.
The “Stimulus” money the federal government stole from you is paying for potentially dangerous and invasive body scanners at our airports. Congress is planning on purchasing more of these scanners in the coming year.
http://libertymaven.com/2010/10/27/stop-the-invasiveness-of-the-body-scanners/10833/
The Subprime Debacle: Act 2, Part 2
The Subprime Debacle: Act 2, Part 2
By John Mauldin
What Happens When the Biggest Banks Are Convicted of Fraud?
http://www.ritholtz.com/blog/2010/10/the-subprime-debacle-act-2-part-2/
By John Mauldin
What Happens When the Biggest Banks Are Convicted of Fraud?
http://www.ritholtz.com/blog/2010/10/the-subprime-debacle-act-2-part-2/
Department of Education Seeks to Regulate Higher Education
Department of Education Seeks to Regulate Higher Education
William A. Estrada, Esq.
http://www.hslda.org/docs/news/201010250.asp
The final regulation will be issued on November 1, 2010.
William A. Estrada, Esq.
A recently proposed regulation would give the federal Department of Education unprecedented authority over all colleges and universities—even private ones.
http://www.hslda.org/docs/news/201010250.asp
The final regulation will be issued on November 1, 2010.
Tuesday, October 26, 2010
Treasury Hid AIG Losses by Keeping Two Sets of Books
Treasury Hid A.I.G. Loss, Report Says
MARY WILLIAMS WALSH
http://www.nytimes.com/2010/10/26/business/26tarp.html
MARY WILLIAMS WALSH
The United States Treasury concealed $40 billion in likely taxpayer losses on the bailout of the American International Group earlier this month, when it abandoned its usual method for valuing investments, according to a report by the special inspector general for the Troubled Asset Relief Program
http://www.nytimes.com/2010/10/26/business/26tarp.html
Saturday, October 23, 2010
Right Turn Seen in Granite State
Right Turn Seen in Granite State
Polls Show Republicans With Upper Hand as Voters Tire of Democratic Dominance in New England
http://online.wsj.com/article/SB10001424052702303496104575560291341344182.html
Polls Show Republicans With Upper Hand as Voters Tire of Democratic Dominance in New England
http://online.wsj.com/article/SB10001424052702303496104575560291341344182.html
Employee Free Choice Act – The campaign issue Paul Hodes wishes would go away
Employee Free Choice Act – The campaign issue Paul Hodes wishes would go away
by Shawn Millerick
http://www.nowhampshire.com/2010/10/19/employee-free-choice-act-the-campaign-issue-paul-hodes-wishes-would-go-away/
by Shawn Millerick
The EFCA issue came up again in Monday’s Manchester Chamber/AARP debate, with Kelly Ayotte calling it a major area of distinction between her and Hodes. Ayotte’s primary opponent Ovide Lamontagne made card check one of his campaign issues, and Ayotte’s rhetoric made it sound like she could do the same. It’s clearly a vulnerable spot for Hodes and other Democrats, and could end up being the final nail in the Paul Hodes coffin.
http://www.nowhampshire.com/2010/10/19/employee-free-choice-act-the-campaign-issue-paul-hodes-wishes-would-go-away/
Tea Party to the Rescue
Tea Party to the Rescue
How the GOP was saved from Bush and the establishment.
http://online.wsj.com/article/SB10001424052702304023804575566503565327356.html
How the GOP was saved from Bush and the establishment.
http://online.wsj.com/article/SB10001424052702304023804575566503565327356.html
Foreclose on the Foreclosure Fraudsters, Part 1: Put Bank of America in Receivership
Foreclose on the Foreclosure Fraudsters, Part 1: Put Bank of America in Receivership
William K. Black and L. Randall Wray
This is a very serious allegation.
http://www.huffingtonpost.com/william-k-black/foreclose-on-the-foreclos_b_772434.html
William K. Black and L. Randall Wray
In other words, to keep the investors at bay the foreclosing banks must manufacture fake documents. If the original documents do not exist the securities might be ruled no good. If the original docs do exist they will demonstrate that proper underwriting was not done -- so the securities might be no good. Foreclosure fraud is the only thing standing between the banks and Armageddon.
This is a very serious allegation.
http://www.huffingtonpost.com/william-k-black/foreclose-on-the-foreclos_b_772434.html
Why Is Due Process a Big Problem for Banks?
Why Is Due Process a Big Problem for Banks?
By Barry Ritholtz
http://www.ritholtz.com/blog/2010/10/why-is-due-process-a-big-problem-for-banks/
By Barry Ritholtz
That has been why I have been hammering the fraudclosure issue so hard — my focus is on the rule of law, property rights and due process. The banks expediency needs does not mean that they get to throw away centuries of laws because they are inconvenient.
http://www.ritholtz.com/blog/2010/10/why-is-due-process-a-big-problem-for-banks/
Thursday, October 21, 2010
18 Iconic Products That America Doesn't Make Anymore
18 Iconic Products That America Doesn't Make Anymore
Anika Anand and Gus Lubin
http://www.businessinsider.com/basic-products-america-doesnt-make-2010-10
Anika Anand and Gus Lubin
Simple products like lightbulbs are not manufactured ANYWHERE in America. Even the shirt on your back is almost certainly not made in this country, unless it comes from a few craft companies.
http://www.businessinsider.com/basic-products-america-doesnt-make-2010-10
Banks Face Two-Front War on Bad Mortgages, Foreclosures
Banks Face Two-Front War on Bad Mortgages, Foreclosures
By John Gittelsohn and Jody Shenn
80 Percent Defective!!!
http://www.bloomberg.com/news/2010-10-21/banks-face-two-front-war-on-bad-u-s-mortgages-flawed-foreclosure-process.html
By John Gittelsohn and Jody Shenn
Shoddy mortgage lending has led bankers into a two-front war, pitting them against U.S. homeowners challenging the right to foreclose and mortgage-bond investors demanding refunds
. . .
Richard M. Bowen, former chief underwriter for Citigroup’s consumer-lending group, said he warned his superiors of concerns that some types of loans in securities didn’t conform with representations and warranties in 2006 and 2007.
“In mid-2006, I discovered that over 60 percent of these mortgages purchased and sold were defective,” Bowen testified on April 7 before the Financial Crisis Inquiry Commission created by Congress. “Defective mortgages increased during 2007 to over 80 percent of production."
80 Percent Defective!!!
http://www.bloomberg.com/news/2010-10-21/banks-face-two-front-war-on-bad-u-s-mortgages-flawed-foreclosure-process.html
Regulator for Fannie Set to Get Litigious
Regulator for Fannie Set to Get Litigious
By NICK TIMIRAOS
http://online.wsj.com/article/SB10001424052702304011604575564631414300418.html
By NICK TIMIRAOS
The Federal Housing Finance Agency, which in July issued 64 subpoenas to issuers of mortgage securities, bank servicing companies and other entities, is working with Quinn Emanuel Urquhart & Sullivan LLP, a Los Angeles-based firm that specializes in business litigation, to coordinate its investigations.
http://online.wsj.com/article/SB10001424052702304011604575564631414300418.html
Why All The Affidavits?
Open Question: Why are banks submitting Lost Note Affidavits (LNA) as their primary way of claiming right to foreclose? Why not submit the original property note? Filing a LNA is supposed to be a "back-up" mechanism in the law. However, banks appear to be using it as their primary means of claiming right to foreclose.
This article states Bank of America will file 102,000 new affidavits. [http://online.wsj.com/article/SB10001424052702303496104575560432631814848.html]. Why aren't they instead submitting 102,000 original notes?
Does anyone know: Why has the procedure of foreclosure in the business model of mortgage securitization come to rely primarily on the backup legal method of filing Lost Note Affidavits?
This article states Bank of America will file 102,000 new affidavits. [http://online.wsj.com/article/SB10001424052702303496104575560432631814848.html]. Why aren't they instead submitting 102,000 original notes?
Does anyone know: Why has the procedure of foreclosure in the business model of mortgage securitization come to rely primarily on the backup legal method of filing Lost Note Affidavits?
Tuesday, October 19, 2010
German "heatball" wheeze outwits EU light bulb ban
German "heatball" wheeze outwits EU light bulb ban
http://news.yahoo.com/s/nm/20101015/od_nm/us_germany_heatballs
A German entrepreneur is bypassing a European Union ban on light bulbs of more than 60 watts by marketing his own brand as mini heaters
http://news.yahoo.com/s/nm/20101015/od_nm/us_germany_heatballs
VFW fires PAC board over Democratic endorsements
About face: VFW fires PAC board over Democratic endorsements
BY J.E. DYER
http://hotair.com/archives/2010/10/18/now-thats-what-im-talking-about-vfw-about-face/
BY J.E. DYER
The Veterans of Foreign Wars PAC, which endorsed an unbelievable slate of left-wing candidates this month (including Harry Reid, Nancy Pelosi, and Barbara Boxer), has been shut down by the VFW leadership, according to the Wall Street Journal.
http://hotair.com/archives/2010/10/18/now-thats-what-im-talking-about-vfw-about-face/
Monday, October 18, 2010
Banks to Restart Foreclosures
Banks Restart Foreclosures
By JESSICA SILVER-GREENBERG, ROBBIE WHELAN and DAN FITZPATRICK
We'll see if they submit the paperwork next Monday.
http://online.wsj.com/article/SB10001424052702304410504575560634267416838.html
By JESSICA SILVER-GREENBERG, ROBBIE WHELAN and DAN FITZPATRICK
Bank of America Corp. reopened more than 100,000 foreclosure actions, declaring that it had found no significant problems in its procedures for seizing homes. GMAC Mortgage, a lender and loan servicer, said that it also is pushing ahead with an unspecified number of foreclosures that came under intense pressure.
Ohio Attorney General Richard Cordray, who last week filed a lawsuit against GMAC alleging hundreds of counts of fraud related to foreclosure documents, said he is suspicious of efforts to replace paperwork. "Substituting new evidence in [cases] where there's been fraud won't help prevent the court from sanctioning them for the fraud that has already been committed," he said. "It doesn't unring the bell."
We'll see if they submit the paperwork next Monday.
http://online.wsj.com/article/SB10001424052702304410504575560634267416838.html
Federal Home Loan Bank of Chicago sues Bank of America, others
Federal Home Loan Bank of Chicago sues B of A, others
By: Steve Daniels
http://www.chicagobusiness.com/article/20101015/NEWS01/101019921/federal-home-loan-bank-of-chicago-sues-b-of-a-others
By: Steve Daniels
The Federal Home Loan Bank of Chicago has sued several of the nation’s largest banks, including its biggest shareholder, Bank of America Corp., alleging that their failure to disclose lax mortgage underwriting standards led the Home Loan Bank to suffer losses after purchasing poor-quality mortgage-backed securities from them.
http://www.chicagobusiness.com/article/20101015/NEWS01/101019921/federal-home-loan-bank-of-chicago-sues-b-of-a-others
Institutional Holders of Countrywide-Issued RMBS Issue Notice of Non-Performance Identifying Alleged Failures by Master Servicer to Perform Covenants
Institutional Holders of Countrywide-Issued RMBS Issue Notice of Non-Performance Identifying Alleged Failures by Master Servicer to Perform Covenants and Agreements in More Than $47 Billion of Countrywide-Issued RMBS
http://www.prnewswire.com/news-releases/institutional-holders-of-countrywide-issued-rmbs-issue-notice-of-non-performance-identifying-alleged-failures-by-master-servicer-to-perform-covenants-and-agreements-in-more-than-47-billion-of-countrywide-issued-rmbs-105221854.html
http://market-ticker.org/akcs-www?post=169575
Today, the holders of over 25% of the Voting Rights in more than $47 billion of Countrywide-issued RMBS sent a Notice of Non-Performance (Notice) to Countrywide Home Loan Servicing, as Master Servicer ("Countrywide Servicing"), and to Bank of New York, as Trustee, identifying specific covenants in 115 Pooling and Servicing Agreements (PSAs) that the Holders allege Countrywide Servicing has failed to perform.
http://www.prnewswire.com/news-releases/institutional-holders-of-countrywide-issued-rmbs-issue-notice-of-non-performance-identifying-alleged-failures-by-master-servicer-to-perform-covenants-and-agreements-in-more-than-47-billion-of-countrywide-issued-rmbs-105221854.html
http://market-ticker.org/akcs-www?post=169575
Foreclosure-Gate In One Sentence
Hedge Fund Manager Whitney Tilson Explains Foreclosure-Gate In One Sentence
Courtney Comstock
http://www.businessinsider.com/hedge-fund-manager-whitney-tilson-explains-foreclosure-gate-in-one-sentence-2010-10
Courtney Comstock
What has happened is, some percentage of foreclosures were probably legitimate foreclosures, but the letter of law was not followed because the system wasn't designed to handle the amount of volume of foreclosures that occured, and banks, lawfirms, etc cut corners.
http://www.businessinsider.com/hedge-fund-manager-whitney-tilson-explains-foreclosure-gate-in-one-sentence-2010-10
Friday, October 15, 2010
In Holland, Free Speech on Trial
In Holland, Free Speech on Trial
By AYAAN HIRSI ALI
http://online.wsj.com/article/SB10001424052748704657304575539872944767984.html
By AYAAN HIRSI ALI
Imagine if a leader within the tea party movement were able to persuade its members to establish a third political party. Imagine he succeeded—overwhelmingly—and that as their leader he stood a real chance of winning the presidency. Then imagine that in anticipation of his electoral victory, the Democrats and Republicans quickly modified an existing antidiscrimination law so that he could be convicted for statements he made on the campaign trail.
All of this seems impossible in a 21st-century liberal democracy. But it is exactly what is happening in Holland to Dutch parliamentarian Geert Wilders.
http://online.wsj.com/article/SB10001424052748704657304575539872944767984.html
The Impact of Error From Securitization to Foreclosure
The Impact of Error From Securitization to Foreclosure
Barry Ritholtz
http://www.ritholtz.com/blog/2010/10/the-impact-of-error-from-securitization-to-foreclosure/
Barry Ritholtz
do not misunderstand these circumstances: These are problems of the banks own making, and we should make sure that the costs of these do not fall to the taxpayers
And no, this is not about keeping deadbeats in their homes.
http://www.ritholtz.com/blog/2010/10/the-impact-of-error-from-securitization-to-foreclosure/
Individual Property Rights (Guarded by the States) vs. Commercial Bankers (aka: Owners of the Federal Reserve)
The Coming Collapse of the Real Estate Market
Charles Hugh Smith
http://www.oftwominds.com/blogoct10/foreclosure-collapse10-10.html
---
The Rot Within: Our Culture of Financial Fraud and the Anger of the Honest
Charles Hugh Smith
http://www.oftwominds.com/blogoct10/fraud-anger10-10.html
Charles Hugh Smith
Either there is due process of law or you have a kleptocracy/"banana republic" oligarchy. At present, that is the decision we face as a nation. If the banking Elites and their partners in the Central State (Fed and Treasury) are allowed to "win" and gut the property laws of the states, then the U.S.A. will be revealed as a kleptocracy/"banana republic" oligarchy.
It's decision time, citizens. Either the banks/Central State "win" and we are a kleptocracy/ "banana republic," or they lose and the U.S. mortgage/ banking sector implodes and is either formally socialized (i.e. owned lock, stock and barrel by the Central State) or rebuilt from scratch without big banks, Federal guarantees and the Fed's incestuous interventions. ("We create the credit that enables the mortgage, you issue the mortgage, and then we buy the mortgage.")
http://www.oftwominds.com/blogoct10/foreclosure-collapse10-10.html
---
The Rot Within: Our Culture of Financial Fraud and the Anger of the Honest
Charles Hugh Smith
To tell the truth is to bring down the entire status quo.
http://www.oftwominds.com/blogoct10/fraud-anger10-10.html
From a Maine House, a National Foreclosure Freeze
From a Maine House, a National Foreclosure Freeze
By DAVID STREITFELD, NYT
http://www.nytimes.com/2010/10/15/business/15maine.html?_r=1
By DAVID STREITFELD, NYT
“When Stephan [the limited signing officer] says in an affidavit that he has personal knowledge of the facts stated in his affidavits, he doesn’t. When he says that he has custody and control of the loan documents, he doesn’t. When he says that he is attaching ‘a true and accurate’ copy of a note or a mortgage, he has no idea if that is so, because he does not look at the exhibits. When he makes any other statement of fact, he has no idea if it is true. When the notary says that Stephan appeared before him or her, he didn’t.”
http://www.nytimes.com/2010/10/15/business/15maine.html?_r=1
Did GM "Lie" About The Electric Car?
How GM "Lied" About The Electric Car
http://jalopnik.com/5661051/how-gm-lied-about-the-electric-car
---
No, GM Didn't 'Lie' About The Volt, The Press Got It Wrong
Nelson Ireson, The Car Connection
http://www.businessinsider.com/no-gm-didnt-lie-about-the-volt-the-press-got-it-wrong-2010-10
We were told the Volt would achieve 230 MPG fuel economy and would always use the electric drivetrain to motivate the wheels — only using the onboard gasoline engine as a "range extender" for charging the batteries. It now turns out that not only were those fuel economy claims misleading, but the gasoline engine is actually used to motivate the wheels — making the Volt potentially nothing more than a very advanced hybrid car and pushing some automotive journalists like Scott Oldham at Edmunds.com to claim "GM lied to the world" about it.
http://jalopnik.com/5661051/how-gm-lied-about-the-electric-car
---
No, GM Didn't 'Lie' About The Volt, The Press Got It Wrong
Nelson Ireson, The Car Connection
The "GM lied" fanatics can build their semantic sand castles and kick down GM's own all day long, but at the end of the day, this "lie" means the Volt is more capable than any other vehicle in its class. Is a flashy headline really worth dragging what may be the best EV/hybrid/futuremobile/whatever through the mud over a case of dubitable nomenclature? Apparently, to some, it is.
http://www.businessinsider.com/no-gm-didnt-lie-about-the-volt-the-press-got-it-wrong-2010-10
Not to be outdone, FDIC joins the robo-signing club, too
Not to be outdone, FDIC joins the robo-signing club, too
http://www.nakedcapitalism.com/2010/10/not-to-be-outdone-fdic-joins-the-robo-signing-club-too.html
That’s right – while IndyMac was under FDIC “control”, bank officers were robo-signing affidavits
http://www.nakedcapitalism.com/2010/10/not-to-be-outdone-fdic-joins-the-robo-signing-club-too.html
Let There be Lightbulbs - End the Nanny State
Let There be Lightbulbs
The perfect symbol of the Pelosi Congress.
http://online.wsj.com/article/SB10001424052748703860104575508130552891248.html
The perfect symbol of the Pelosi Congress.
http://online.wsj.com/article/SB10001424052748703860104575508130552891248.html
Thursday, October 14, 2010
Time for Criminal Charges To Be Filed . . .
Time for Criminal Charges To Be Filed . . .
By Barry Ritholtz
http://www.ritholtz.com/blog/2010/10/robo-signers-hired-criminal-charges-needed/
By Barry Ritholtz
The absurdity of illegal activity, criminal conduct, rampant fraud has reached a point where the nation much declare “No More.” We must begin the process of identifying criminal actors — and prosecuting them.
This is about fundamental property rights and the Rule of Law in the United States — nothing less.
http://www.ritholtz.com/blog/2010/10/robo-signers-hired-criminal-charges-needed/
First The Stimulus, Now The Hangover
First The Stimulus, Now The Hangover
Nicole Gelinas, NY Post
http://www.nypost.com/p/news/opinion/opedcolumnists/first_the_stimulus_now_the_hangover_AXlk9aHhMtraQ3mQ2oQ1DL
Nicole Gelinas, NY Post
Last week's dismal jobs figures tell us exactly what the President Obama's stimulus did: It temporarily saved jobs in state and local government -- thereby slowing our recovery.
http://www.nypost.com/p/news/opinion/opedcolumnists/first_the_stimulus_now_the_hangover_AXlk9aHhMtraQ3mQ2oQ1DL
Do We Really Need a Central Bank?
Do We Really Need a Central Bank?
by John Tamny
http://www.valueexpectations.com/blogs/do-we-really-need-central-bank10142010
by John Tamny
The United States surely did experience a number of financial crises - 1873, 1884, 1893, and 1907 - prior to the Fed's charter. But Selgin writes that "by almost any measure, the major financial crises of the Federal Reserve era - those of 1920-21, 1929-33, 1937-38, 1980-82, and 2007-2009 most recently - have been more rather than less severe than those experienced between the Civil War and World War I." If greater financial stability had been the main purpose of creating the Fed, then it has failed on that score.
http://www.valueexpectations.com/blogs/do-we-really-need-central-bank10142010
Let’s Not Start Lionizing The Anti-Foreclosure Deadbeats
Let’s Not Start Lionizing The Anti-Foreclosure Deadbeats
By: John Carney
http://www.cnbc.com/id/39657316
By: John Carney
Now that all fifty states have launched a joint investigation into fauxclosuregate, it’s probably time to soberly address the fact that nearly everyone who has been ‘victimized’ by robo-signers and foreclosure mills is in default on their home loans.
http://www.cnbc.com/id/39657316
One nation, under fraud
TheDC OP-ED: One nation, under fraud
By Joseph Tauke - The Daily Caller
How would you feel if one day you came home and found your homes locks were changed, your belongings were gone, it was done by a bank you didn't even have a mortgage with, and the bank claimed you had already missed your day in court?
Read more: http://dailycaller.com/2010/10/14/thedc-op-ed-one-nation-under-fraud/print/
By Joseph Tauke - The Daily Caller
How would you feel if one day you came home and found your homes locks were changed, your belongings were gone, it was done by a bank you didn't even have a mortgage with, and the bank claimed you had already missed your day in court?
Read more: http://dailycaller.com/2010/10/14/thedc-op-ed-one-nation-under-fraud/print/
DID WALL STREET SHAFT MAIN STREET?
DID WALL STREET SHAFT MAIN STREET?
pragcap.com
http://pragcap.com/wall-street-shaft-main-street
pragcap.com
One of the reasons I believe the US economy is such a mess right now is because we’ve attempted to create a marketplace where no one ever loses. It’s a ponzi approach to economics. It doesn’t work.
http://pragcap.com/wall-street-shaft-main-street
Tuesday, October 12, 2010
Why Foreclosure Fraud Is So Dangerous to Property Rights
Why Foreclosure Fraud Is So Dangerous to Property Rights
By Barry Ritholtz
http://www.ritholtz.com/blog/2010/10/why-foreclosure-fraud-is-so-dangerous-to-property-rights/
By Barry Ritholtz
It is a legal impossibility for someone without a mortgage to be foreclosed upon. It is a legal impossibility for the wrong house to be foreclosed upon, It is a legal impossibility for the wrong bank to sue for foreclosure.
And yet, all of those things have occurred. The only way these errors could have occurred is if several people involved in the process committed criminal fraud. This is not a case of “Well, something slipped through the cracks.” In order for the process to fail, many people along the chain must commit fraud.
That it is being done for expediency and to save a few dollars on the process is why the full criminal prosecution must occur.
http://www.ritholtz.com/blog/2010/10/why-foreclosure-fraud-is-so-dangerous-to-property-rights/
Monday, October 11, 2010
The Final End of Bretton Woods 2?
The Final End of Bretton Woods 2?
http://economistsview.typepad.com/timduy/2010/10/the-final-end-of-bretton-woods-2.html
The time may finally be at hand when the imbalances created by Bretton Woods 2 now tear the system asunder. The collapse is coming via an unexpected channel; rather than originating from abroad, the shock that sets it in motion comes from the inside, a blast of stimulus from the US Federal Reserve.
http://economistsview.typepad.com/timduy/2010/10/the-final-end-of-bretton-woods-2.html
The Coming Middle-Class Anarchy
The Coming Middle-Class Anarchy
http://gonzalolira.blogspot.com/2010/10/coming-middle-class-anarchy.html
Related:
Whistleblower: Fannie Mae Bungled HAMP Anti-Foreclosure Program
http://www.publicintegrity.org/articles/entry/2305/
What’s really important is Brian and Ilsa: What’s really important is that law-abiding middle-class citizens are deciding that playing by the rules is nothing but a sucker’s game.
http://gonzalolira.blogspot.com/2010/10/coming-middle-class-anarchy.html
Related:
Whistleblower: Fannie Mae Bungled HAMP Anti-Foreclosure Program
http://www.publicintegrity.org/articles/entry/2305/
Friday, October 8, 2010
Obama's Medicare Czar Can't Take the Heat
It's been three months now since his recess appointment, and still no word from the new CMS director, Donal Berwick. In fact, Berwick hasn't granted any interviews, refuses to testify before Congress, and doesn't take any questions at public events.
To put this in perspective, Donald Berwick oversees the healthcare spending for one-in-three Americans and, as the New York Times put it, "has a budget bigger than the Pentagon's."
http://www.breitbart.tv/obamas-recess-appointed-medicare-czar-refuses-to-answer-questions/
Monday, October 4, 2010
Friday, October 1, 2010
Rain, Rain, Rain ...
NH gets at least 4 inches of rain from storm
High winds, drenching rain
Route 112 in Bath had been closed after a mudslide, but reopened, Van Dongen said. Up north, part of Route 3 was closed in Columbia and part of Route 302 was closed in Bethlehem.
High winds, drenching rain
Officials were keeping a close watch on three rivers - the Ammonoosuc at Bethlehem, the Pemigewasset at Woodstock and Plymouth and Baker River at Rumney. Van Dongen said they are expected to crest this afternoon.
How TED Became The New Harvard
How TED Became The New Harvard
BY: ANYA KAMENETZ; FastCompany.com
http://www.fastcompany.com/magazine/148/how-ted-became-the-new-harvard.html
BY: ANYA KAMENETZ; FastCompany.com
Of course TED doesn't look like a regular Ivy League college. It doesn't have any buildings; it doesn't grant degrees. It doesn't have singing groups or secret societies, and as far as I know it hasn't inspired any strange drinking games.
Still, if you were starting a top university today, what would it look like?
http://www.fastcompany.com/magazine/148/how-ted-became-the-new-harvard.html
Moses' parting of the Red Sea: New sim explains whole thing
Moses' parting of the Red Sea: New sim explains whole thing
By Lewis Page
http://www.theregister.co.uk/2010/09/22/moses_water_sim_study/
Also: http://ultimosegundo.ig.com.br/ciencia/modelo+de+computador+explica+como+moises+separou+o+mar+vermelho/n1237781475212.html
PLoS One Article:
Dynamics of Wind Setdown at Suez and the Eastern Nile Delta
http://www.plosone.org/article/info:doi/10.1371/journal.pone.0012481
By Lewis Page
Under a uniform 28 m/s easterly wind forcing in the reconstructed model basin, the ocean model produces an area of exposed mud flats where the river mouth opens into the lake. This land bridge is 3–4 km long and 5 km wide, and it remains open for 4 hours. Model results indicate that navigation in shallow-water harbors can be significantly curtailed by wind setdown when strong winds blow offshore.
http://www.theregister.co.uk/2010/09/22/moses_water_sim_study/
Also: http://ultimosegundo.ig.com.br/ciencia/modelo+de+computador+explica+como+moises+separou+o+mar+vermelho/n1237781475212.html
PLoS One Article:
Dynamics of Wind Setdown at Suez and the Eastern Nile Delta
http://www.plosone.org/article/info:doi/10.1371/journal.pone.0012481
Subscribe to:
Posts (Atom)